According to Intels own specs for the X48, it supports dual channel DDR3 RAM up to DDR3 1600. Your link to the RAM shows a DDR3 1600 dual set, so it looks correct. But note, you could also use slower (thereby cheaper) RAM, and hardly ever notice it.
- However, if I read this link right, it is RAM that operates at 1.65 Volt. The JEDEC standard for DDR3 operates as 1.50 V AFAIK, so this is 'factory overvolted' RAM. DDR3 RAM @ 1.50V has lower power consumption, and is statistically expected to have a longer lifespan, as it runs cooler.
- Unfortunately, certain motherboard-RAM combinations are just unstable. There is no really good way to judge this beforehand, unless the motherboard or RAM maker has tested & approved the combination, or unless you can find a bulleting board or similar where other users reports that the combination works fine.
So my overall suggestion would be to get pre-tested RAM for your specific motherboard model. Do this either by getting RAM that is certified by the motherboard maker, or certified for the exact motherboard model by the RAM maker, or approved by people who have the exact combination of RAM and motherboard themselves.
Anther thing is, any server should IMHO absolutely have ECC RAM. As computers are getting more and more RAM, the soft and hard error rate increases. Opinions on this are very divided, see for example Jeff Atwood's opinion or this recent study. I still think that a proper server, even a cheap low-end model from a tier 1 manufacturer, with proper ECC RAM and a Intel Xeon CPU is the way to go, even for the budget minded. Sometimes cheap DIY hardware just turns out to be way too much trouble, even for temporary use.